We’re now closer to 2050 than we are to the year 2000...let that sink in for a moment! Twenty-five years might feel like the blink of an eye for many of us – but in the fast-paced world of short-term rentals, it’s like living through multiple lifetimes.
Back at the turn of the century, a holiday home owner’s biggest resolution might have been to build a website or offer that cutting-edge perk – dial-up internet. Fast forward to today, and hosts are strategising about direct bookings, dynamic pricing, and harnessing the power of AI to stay ahead of the curve.
It’s mind-boggling to think what resolutions in 2050 might look like. Will we be optimising rentals in the metaverse? Offering teleportation as a premium guest perk? One thing’s for sure – this industry never stands still!
Keeping things in the present day, we've compiled five new year resolutions for every STR host and property manager, plus some links to companies who can help you to achieve your goals.
Prioritise direct bookings
Set a clear goal for growing your direct bookings this year – whether it’s a 20% increase or reaching a specific target by year-end.
Start by developing a solid direct booking strategy and equipping yourself with the right tools. Platforms like Hostfully, Hospitable, and Hosthub make it easy to create a professional direct booking website, streamline guest communication, and handle payment processing seamlessly.
Looking for simplicity? Booklee offers an intuitive way to set up your direct booking site quickly and hassle-free. Take charge of your bookings, reduce fees, and build stronger guest relationships. Watch the below podcast featuring Booklee Founder and CEO, Adams Taranda, for inspiration.
Elevate the guest experience with upselling
As Annie Munro Sloan, Founder and CEO of The Host Co., shared on our podcast (video below), upselling isn’t about “nickel and diming” your guests – it’s about enhancing their experience and going the extra mile. Offering thoughtful upsells can leave a lasting impression on travellers, showcasing your commitment to exceptional hospitality.
One effortless way to present upsells is through a digital guidebook. With tools like Hostfully, you can create one for free, making it easy to recommend personalised services and experiences.
A standout upsell? A private chef! Our strategic partner, yhangry, connects guests with top-tier chefs for every occasion – from convenient meal prep and curated food hampers to unforgettable luxury dinners. It’s the perfect way to elevate your short-term rental experience and boost your revenue.
Utilise dynamic pricing
If you're not using a dynamic pricing tool like Beyond, you could be missing out on significant revenue opportunities. Dynamic pricing takes the guesswork out of setting rates by analysing demand in real time and automatically adjusting your nightly prices to maximise your earnings.
For a small amount of each month, this tool could become one of the smartest investments you make – helping you stay competitive, boost occupancy, and increase profits effortlessly. Don’t leave money on the table – let technology do the heavy lifting!
Catch our podcast with Beyond CEO Julie Brinkman to find out more about how a dynamic pricing tool can boost your revenue.
Focus on sustainability
Showcase your commitment to sustainability in your short-term rental. Highlight eco-friendly features like energy-efficient appliances, water-saving fixtures, or solar panels in your listings and social media posts. Share your green initiatives in community groups or at networking events – it not only attracts like-minded guests but also builds your reputation as a responsible host. Going green isn’t just good for the planet; it can set your property apart and even lead to more direct bookings.
Catch this episode of HCH Bitesize with EnviroRental Founder Bob Garner for five easy tips to make your rental more sustainable.
Grow your professional network
Spread the word about your rentals far and wide. Tap into community Facebook groups and attend local networking events to get your properties noticed. The more people hear about your offerings, the more bookings you’ll attract. Plus, these connections can lead to valuable direct bookings – building relationships while boosting your bottom line.
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